Whiskey Thief Ltd 30/09/2017 iXBRL

Whiskey Thief Ltd 30/09/2017 iXBRL

WHISKEY THIEF LIMITED - Company Information

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30/09/2017 2017-09-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2016-10-01 Sage Accounts Production 18.11 - FRS xbrli:pure xbrli:shares iso4217:GBP 9212714 2016-10-01 2017-09-30 9212714 2017-09-30 9212714 2015-10-01 2016-09-30 9212714 2016-09-30 9212714 2015-09-30 9212714 bus:RegisteredOffice 2016-10-01 2017-09-30 9212714 bus:Director1 2016-10-01 2017-09-30 9212714 core:RetainedEarningsAccumulatedLosses 2015-10-01 2016-09-30 9212714 core:RetainedEarningsAccumulatedLosses 2016-10-01 2017-09-30 9212714 core:WithinOneYear 2017-09-30 9212714 core:WithinOneYear 2016-09-30 9212714 core:ShareCapital 2017-09-30 9212714 core:ShareCapital 2016-09-30 9212714 core:RetainedEarningsAccumulatedLosses 2017-09-30 9212714 core:RetainedEarningsAccumulatedLosses 2016-09-30 9212714 core:ShareCapital 2015-09-30 9212714 bus:SmallEntities 2016-10-01 2017-09-30 9212714 bus:AuditExempt-NoAccountantsReport 2016-10-01 2017-09-30 9212714 bus:AbridgedAccounts 2016-10-01 2017-09-30 9212714 bus:SmallCompaniesRegimeForAccounts 2016-10-01 2017-09-30 9212714 bus:PrivateLimitedCompanyLtd 2016-10-01 2017-09-30
Statement of consent to prepare abridged financial statements
All of the members of Whiskey Thief Ltd have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 September 2017 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number: 9212714
Whiskey Thief Ltd
Unaudited abridged financial statements
30 September 2017
Whiskey Thief Ltd
Contents
Directors and other information
Director's report
Abridged statement of comprehensive income
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Whiskey Thief Ltd
Directors and other information
Director Stacey Thomas
Company number 9212714
Registered office 96-98 Pentonville Road
London
N1 9JB
Business address The Lexington
96-98 Pentonville Road
London
N1 9JB
Whiskey Thief Ltd
Director's report
Year ended 30 September 2017
The director presents her report and the unaudited financial statements of the company for the year ended 30 September 2017.
Director
The director who served the company during the year was as follows:
Stacey Thomas
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 29 June 2018 and signed on behalf of the board by:
Stacey Thomas
Director
Whiskey Thief Ltd
Abridged statement of comprehensive income
Year ended 30 September 2017
2017 2016
Note £ £
Gross profit/(loss) 4,047 ( 36,089)
Distribution costs ( 10,448) ( 16,954)
Administrative expenses ( 2,319) ( 15,049)
_______ _______
Operating loss ( 8,720) ( 68,092)
_______ _______
Loss before taxation ( 8,720) ( 68,092)
Tax on loss - -
_______ _______
Loss for the financial year and total comprehensive income ( 8,720) ( 68,092)
_______ _______
All the activities of the company are from continuing operations.
Whiskey Thief Ltd
Abridged statement of financial position
30 September 2017
2017 2016
Note £ £ £ £
Fixed assets
Tangible assets 4 758 758
_______ _______
758 758
Current assets
Stocks 287,288 168,398
Debtors 20,930 6,058
Cash at bank and in hand 1,010 7,766
_______ _______
309,228 182,222
Creditors: amounts falling due
within one year ( 385,798) ( 250,072)
_______ _______
Net current liabilities ( 76,570) ( 67,850)
_______ _______
Total assets less current liabilities ( 75,812) ( 67,092)
_______ _______
Net liabilities ( 75,812) ( 67,092)
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account ( 76,812) ( 68,092)
_______ _______
Shareholders deficit ( 75,812) ( 67,092)
_______ _______
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 29 June 2018 , and are signed on behalf of the board by:
Stacey Thomas
Director
Company registration number: 9212714
Whiskey Thief Ltd
Statement of changes in equity
Year ended 30 September 2017
Called up share capital Profit and loss account Total
£ £ £
At 1 October 2015 1,000 - 1,000
Loss for the year ( 59,922) (59,922)
_______ _______ _______
Total comprehensive income for the year - ( 59,922) ( 59,922)
_______ _______ _______
At 30 September 2016 and 1 October 2016 1,000 ( 68,092) ( 67,092)
Loss for the year ( 1,306) (1,306)
_______ _______ _______
Total comprehensive income for the year - ( 1,306) ( 1,306)
_______ _______ _______
At 30 September 2017 1,000 (69,398) (68,398)
_______ _______ _______
Whiskey Thief Ltd
Notes to the financial statements
Year ended 30 September 2017
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is The Lexington, 96-98 Pentonville Road, London, N1 9JB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
£
Cost
At 1 October 2016 and 30 September 2017 948
_______
Depreciation
At 1 October 2016 and 30 September 2017 190
_______
Carrying amount
At 30 September 2017 758
_______
At 30 September 2016 758
_______